AFI Development PLC provided earnings guidance for the fourth quarter of 2014. Based on preliminary indications of valuation results received from an independent appraiser (Cushman & Wakefield), the company expects to record a net valuation loss on investment properties, investment properties under development and inventory of real estate during the fourth quarter of 2014 of circa $210 million before taxes. Estimated loss after tax for the fourth quarter of 2014, including foreign exchange loss, will be circa $300 million.

AFI Development expects the fourth quarter results to be affected by an equity deduction in the amount of circa $390 million.